It was just recently that Mack-Cali Realty Corporation listed their only Manhattan property, and now the company has declared its cash dividends.
As the company deals with the unstable market conditions, the company has also declared its recent quarterly earnings. According to a recent post by the Street Insider, "Mack-Cali Realty (NYSE: CLI) declared a quarterly dividend of $0.15 per share, or $0.6 annualized." The dividend of the company will be paid on Oct. 15, 2015 to stockholders of record as of Oct. 5, 2015.
Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction, and other tenant-related services for its two-platform operations of Waterfront and transit-based office and luxury multi-family, as noted by the PR Newswire.
Mack-Cali also possesses more than 274 properties, consisting of 255 office and office/flex properties and adding up to almost 29.7 million square feet. The 19 multi-family rental properties containing approximately 5,700 residential units and a pipeline of 10,000 units are all located in the Northeast. The properties enable the company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants, as was further disclosed by PR Newswire.
The annual yield of Mack-Cali falls to a dividend of three percent. Statements made in a press release of the Securities Exchange Act of 1934, as amended, showed the company's path to stability.
However, despite the forward-looking statements, the company thinks that these are inherently subject to certain risks, trends and reservations. The company also cannot forecast with accuracy, and some of which the company might not even expect.
The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise, as further explained by PR Newswire.
The company has withstood the unstable and unchartered waters of the real estate industry. It has always aimed for transparency and growth annually.